Gold still needs correction, rebound is bearish
Mis à jour
Gold was originally bearish, because the rapid retracement from the daily level to 2223 has established the rhythm of a phased top correction. However, we see that this week did not continue the correction, but turned into a shock. If the shock lasts too long, it is not conducive to short sellers, because the early surge has made the bulls very strong. To adjust this trend, it must be rapid and sharp. Adjust it, otherwise it won't be adjusted at all. Therefore, there was a situation of pulling up and washing the market yesterday, but pulling up does not mean that it will rise. In the short term, it will still fluctuate at a high level. In this rhythm, we were originally bearish the day before yesterday and made a short order, but it was obviously unable to fall. Therefore, we closed all short positions in the early trading yesterday, and also arranged long orders in the European trading yesterday, but we did not expect that gold would hit 2200, with a single-day increase of US$30.
After yesterday's market washout, gold is still consolidating at a high level in the short term, and the US dollar has strengthened again after yesterday's short-term correction. Yesterday's sharp rise in gold can be said to have released short-term bullish capabilities, while the rapid correction shows that the short-term high correction pattern has not yet Change. Therefore, in the evening, we still treat it with the idea of correcting the gold high. Although the mid- to long-term direction is bullish, in the short term we still focus on the range consolidation pattern with the 2190 line as suppression at the top and the 2160 area as support at the bottom.
After yesterday's market washout, gold is still consolidating at a high level in the short term, and the US dollar has strengthened again after yesterday's short-term correction. Yesterday's sharp rise in gold can be said to have released short-term bullish capabilities, while the rapid correction shows that the short-term high correction pattern has not yet Change. Therefore, in the evening, we still treat it with the idea of correcting the gold high. Although the mid- to long-term direction is bullish, in the short term we still focus on the range consolidation pattern with the 2190 line as suppression at the top and the 2160 area as support at the bottom.
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